GBPUSD Wave Analysis – 23 January, 2019

• GBPUSD broke resistance area
• Further gains are likely

GBPUSD recently broke though the resistance area located between the round resistance level 1.3000 and the resistance trendline of the daily down channel from September.

The breakout of this resistance area accelerated the active short-term upward ABC correction 2 from the start of January.

GBPUSD is expected to rise further and re-test the next key resistance at 1.3200 (which reversed the price twice in the middle of September).